Owning & Operating Businesses on a Shoestring Budget

Over the years, I have owned and operated several businesses. I never had a great deal of money to invest so my businesses were very low budget. Here are some possible ideas for you to use or to generate ideas of your own.

One of the low budget businesses I owned was a house cleaning service. I gave the customers the option to supply their own cleaning supplies or to pay the extra that it cost to supply them. I advertised in the service section of the local paper. That, along with word of mouth, generated enough business to keep me busy. When I eventually had to hire employees, I only hired part time employees.

A few years later I sold that business and I opened a second hand store. I took in everything on consignment so I didn't have money tied up in inventory. With that kind of a business, I didn't require a pricey location. A couple of art students volunteered to make signs for me. No employees were needed. I advertised in the rummage sale section of the newspaper.

In pre-internet days, I also sold Fuller Brush products in between other businesses and while going to college. I did not invest in any product but sold strictly through the catalogs. In hindsight, I probably would have been better off stocking up on product when it was sale priced and reselling it at my own prices. It would have saved me money on catalogs and I would have had the opportunity to make more profit. If you decide to try this with Fuller Brush or a similar company, I recommend talking to a representative to see what sells best for them. Many of these companies are now offering websites. Before you commit yourself to an internet presence, be sure to check out some ecommerce forums to ask about how profitable these sites are. In my opinion, you need to have a way to differentiate yourself from everyone else with these cookie cutter sites. If the company doesn't allow you to do that, you will find it very difficult to compete with all of the other representatives.

After college, I owned a resume writing service. I saved money by doing it at home and many of my expenses were tax deductible, including a percentage of the mortgage and utilities. At the time there was a company that offered free samples of their preprinted papers. I would show them to my resume customers who wanted something unusual but classy to set themselves apart and I would order as needed. That saved me the investment of stocking expensive paper. People who didn't want to wait that long for their paper to arrive would purchase their own at a business supply store. The business required an investment in a computer and a laser printer. I picked up a desk at a rummage sale and set my business up in the basement. I did get a business line so I could advertise in the yellow pages. I also advertised in the service directory of our local paper. Once again, I did not need employees.

I hope my experiences will generate some ideas of your own and will give you hope that, even in these recessionary times, you can own and operate a profitable business.